Equinor ASA EQNR , operator of manufacturing license 120, has struck oil within the Telesto exploration properly within the North Sea. This represents the 26th exploration properly within the license because it was awarded in 1985 in licensing spherical 10-A.

Equinor together with companions – Petoro, ConocoPhillips COP and Repsol- accomplished the drilling of 34/Eight-18 S properly, the purpose of which was to substantiate petroleum in early Jurassic reservoir rocks (the Statfjord group).The properly was drilled about 2.5 kilometers east of the Visund A platform and 155 kilometers west of Floro within the northern a part of the North Sea. The Telesto exploration properly, which was drilled on Feb 9 from the Visund A platform within the Tampen, hit an oil column of about 115 meters within the higher and decrease a part of the Statfjord group in sandstone with average reservoir high quality. The higher a part of the Statfjord group has an efficient reservoir of 17 meters. The decrease Statfjord group, which has an efficient reservoir of 20 meters, additionally encountered oil-water contact at about 3170 meters under sea degree.

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About 15 meters of aquiferous sandstone with poor reservoir high quality was found within the higher a part of the Lunde formation within the Upper Triassic.

The discovery is estimated to carry recoverable sources of about 12-28 million barrels of oil. While knowledge acquisition and sampling have been acquired for additional evaluation, the properly has now been plugged and deserted. Equinor and companions will now ponder choices to progress with this discovery.

About Visund

Located 22 kilometers northeast of the Gullfaks area within the Tampen space of the Norwegian North Sea, Visund is an oil and gasoline area in blocks 34/Eight and 34/7.

The area, which got here on-line within the spring of 1999 includes a floating manufacturing, drilling and quarters platform. The subsea-completed wells on the sphere are tied again to the floater with versatile risers. Oil is transferred to Gullfaks for storage and export.

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Equinor's endeavors to enhance restoration of sources in mature fields are commendable. The firm has operations in all main hydrocarbon-producing areas of the world, with an emphasis on the Norwegian Continental Shelf (NCS). We imagine that the corporate is properly positioned to maintain regular manufacturing progress over the following few years on the again of huge useful resource base at NCS. 

Source: www.nasdaq.com

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